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Institutional Determinants Of Shadow Economy In The Former Soviet Union Countries

Table 1: Descriptive statistics and VIF test results

Variables Mean Std. Dev. VIF Source
1. Shadow Economy 41.65 6.59 - Medina and Schneider (2018)
2. GDP per capita 8898.85 7133.59 4.91 World Bank (WB)
3. Unemployment 9.44 3.60 2.60 World Bank (WB)
4. Trade/GDP 95.58 31.33 2.95 World Bank (WB)
5. Gross capital formation 24.34 3.40 6.48 World Bank (WB)
6. Government Intervention 24.26 7.25 1.68 The Heritage Foundation (HF)
7. Business Freedom 61.65 10.66 2.10 The Heritage Foundation (HF)
8. Trade Freedom 72.39 9.38 1.99 The Heritage Foundation (HF)
9. Fiscal Freedom 79.98 11.78 2.71 The Heritage Foundation (HF)
10. Control of corruption -0.92 0.26 3.99 World Development Indicators (WDI)
11. Government effectiveness -0.64 0.32 5.10 World Development Indicators (WDI)
12. Regulatory quality -0.51 0.49 7.98 World Development Indicators (WDI)
13. Rule of law -0.84 0.33 6.20 World Development Indicators (WDI)
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